Consumer Price Index: Inflation Rose 0.8%
Consumers paid 1.6% more in July 2016 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. The level of inflation rose 0.8 percentage points from the 0.8% measured in June 2016.
The Consumer Price Index report said, “Between June 2016 and July 2016, the average cost of goods and services in the CPI increased by 1.0%. The all-items index rose to 102.2 in July. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $102.20.
“The Rent sector was the largest contributor to the year-over-year change, increasing 1.4%. The major contributor to the annual increase was the average cost of residential land tax.
“In addition, the Education, Recreation, Entertainment & Reading sector and the Health & Personal Care sector also impacted significantly the year-over-year increase. These sectors rose 3.9 and 3.7%, respectively.”
The full July 2016 Consumer Price Index follows below [PDF here]:
